South Korea Pet Snacks And Treats Market Size & Outlook
South Korea pet snacks and treats market, 2018-2030 (US$M)
Related Markets
South Korea pet snacks and treats market highlights
- The South Korea pet snacks and treats market generated a revenue of USD 287.3 million in 2023 and is expected to reach USD 648.4 million by 2030.
- The South Korea market is expected to grow at a CAGR of 12.3% from 2024 to 2030.
- In terms of segment, eatables was the largest revenue generating product in 2023.
- Chewables is the most lucrative product segment registering the fastest growth during the forecast period.
Pet snacks and treats market data book summary
| Market revenue in 2023 | USD 287.3 million |
| Market revenue in 2030 | USD 648.4 million |
| Growth rate | 12.3% (CAGR from 2023 to 2030) |
| Largest segment | Eatables |
| Fastest growing segment | Chewables |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Eatables, Chewables |
| Key market players worldwide | Mars Group Holdings Corp, Nestle SA, JM Smucker Co, General Mills Inc, Colgate Palmolive, Nestle Purina Petcare, Spectrum Brands Holdings Inc, Wellness Pet Company, VAFO Group |
Other key industry trends
- In terms of revenue, South Korea accounted for 0.8% of the global pet snacks and treats market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China pet snacks and treats market is projected to lead the regional market in terms of revenue in 2030.
- Australia is the fastest growing regional market in Asia Pacific and is projected to reach USD 1,551.6 million by 2030.
Eatables was the largest segment with a revenue share of 66.9% in 2023. Horizon Databook has segmented the South Korea pet snacks and treats market based on eatables, chewables covering the revenue growth of each sub-segment from 2018 to 2030.
The pet snacks and treats market in South Korea is thriving, as a significant portion of the population has been embracing pet ownership. According to a survey conducted by the Ministry of Agriculture, Food and Rural Affairs in 2022, approximately one out of four Koreans, constituting 25.4% of the respondents aged between 20 and 64, reported raising at least one pet animal in their residences.
The survey further revealed that among pet owners, 75.6% had dogs, highlighting the popularity of canine companionship, while 27.7% raised cats. In addition, 7.3% of respondents mentioned having fish as their chosen pet. This diversity in pet ownership reflects the varied preferences of people in South Korea.
According to Yonhap News Agency, pet owners spent an average of USD 123 per month on their pets, marking a significant uptick of around USD 25 from 2022. This rise in spending underscores the growing emphasis on providing high-quality and enjoyable products, including snacks and treats, for the well-being of pets.
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Pet Snacks And Treats Market Scope
Pet Snacks And Treats Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea pet snacks and treats market size, by product, 2018-2030 (US$M)
South Korea Pet Snacks And Treats Market Outlook Share, 2023 & 2030 (US$M)
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